North East Rubber PCL (BKK:NER-R) Operating Income: ฿2,242 Mil (TTM As of Dec. 2025)


BKK:NER-R North East Rubber PCL BKK:NER-R
88 GF Score
Price ฿4.76
GF Value ฿6.03
! 5 Warning Signs
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What is North East Rubber PCL Operating Income?

North East Rubber PCL BKK:NER-R 88 Operating Income is ฿2,242 Mil as of Dec. 2025. GuruFocus rates BKK:NER-R with a GF Score™ of 88/100 and a GF Value™ of ฿6.03. The stock has 5 warning signs investors should review.

North East Rubber PCL's Operating Income for the three months ended in Dec. 2025 was ฿381 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was ฿2,242 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. North East Rubber PCL's Operating Income for the three months ended in Dec. 2025 was ฿381 Mil. North East Rubber PCL's Revenue for the three months ended in Dec. 2025 was ฿7,231 Mil. Therefore, North East Rubber PCL's Operating Margin % for the quarter that ended in Dec. 2025 was 5.27%.

Warning Sign:

North East Rubber PCL operating margin has been in a 5-year decline. The average rate of decline per year is -1.7%.

North East Rubber PCL's 5-Year average Growth Rate for Operating Margin % was -1.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. North East Rubber PCL's annualized ROC % for the quarter that ended in Dec. 2025 was 7.14%. North East Rubber PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 11.91%.


North East Rubber PCL  (BKK:NER-R) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

North East Rubber PCL's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=1524.24 * ( 1 - 8.1% )/( (19516.518 + 19705.814)/ 2 )
=1400.77656/19611.166
=7.14 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=20039.669 - 353.747 - ( 169.404 - max(0, 5354.251 - 17962.286+169.404))
=19516.518

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=20004.791 - 239.097 - ( 59.88 - max(0, 5788.641 - 18006.979+59.88))
=19705.814

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

2. Joel Greenblatt's definition of Return on Capital:

North East Rubber PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2257.776/( ( (1563.505 + max(17322.357, 0)) + (1523.75 + max(17507.409, 0)) )/ 2 )
=2257.776/( ( 18885.862 + 19031.159 )/ 2 )
=2257.776/18958.5105
=11.91 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(560.663 + 17111.241 + 30.600999999999) - (353.747 + 26.701 + -0.30000000000018)
=17322.357

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(643.169 + 17030.438 + 77.654999999999) - (239.097 + 4.756 + 0)
=17507.409

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

3. Operating Income is also linked to Operating Margin %:

North East Rubber PCL's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=381.06/7230.56
=5.27 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


North East Rubber PCL Operating Income Related Terms


North East Rubber PCL Operating Income Historical Data

* Premium members only.

The historical data trend for North East Rubber PCL's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

North East Rubber PCL Operating Income Chart

North East Rubber PCL Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2,438.30 2,320.75 2,106.63 2,197.81 2,242.39

North East Rubber PCL Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 625.00 751.06 648.99 461.28 381.06
BKK:NER-R
88GF Score
North East Rubber PCL BKK:NER-R
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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North East Rubber PCL Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿2,242 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of ฿2,242 Mil mean?
North East Rubber PCL (BKK:NER-R) has a Operating Income of ฿2,242 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on North East Rubber PCL and its competitors.
Is North East Rubber PCL's Operating Income too high?
North East Rubber PCL's current Operating Income is ฿2,242 Mil. Overall, North East Rubber PCL has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does North East Rubber PCL's Operating Income compare to LIN and SHW?
North East Rubber PCL's Operating Income of ฿2,242 Mil can be compared against companies in the Chemicals industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Chemicals company?
A good Operating Income depends on the Chemicals industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on North East Rubber PCL and its competitors. North East Rubber PCL's current Operating Income is ฿2,242 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is North East Rubber PCL stock overvalued right now?
North East Rubber PCL (BKK:NER-R) has a current Operating Income of ฿2,242 Mil. The stock's GF Value™ is ฿6.03, compared to a current price of ฿4.76 — trading 21.1% below its estimated fair value. The current Operating Income is ฿2,242 Mil. North East Rubber PCL's overall GF Score™ is 88/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For North East Rubber PCL (BKK:NER-R), the current Operating Income is ฿2,242 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is North East Rubber PCL (BKK:NER-R) Overvalued in 2026?

Based on GuruFocus' analysis, North East Rubber PCL stock appears to be undervalued. The current stock price of ฿4.76 is trading 21.1% below its estimated GF Value™ of ฿6.03.

Key valuation signals for BKK:NER-R:

  • Operating Income: ฿2,242 Mil
  • GF Value™: ฿6.03 vs. price of ฿4.76 (21.1% below fair value)
  • GF Score™: 88/100 with 5 warning signs

No single metric tells the full story. See the BKK:NER-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


North East Rubber PCL Business Description

Other Exchanges NER:Thailand
Address 398 Moo 4 Khok Ma, Prakhon Chai, Buriram Province, Bangkok, THA, 31140
North East Rubber PCL Company and its subsidiary have a single core operating segment (identified by internal reporting segments), i.e., manufacturing and sales of rubber smoked sheets, skim block rubbers, and other rubber products, both domestically and abroad. Geographically, the maximum revenue is generated from Thailand.
88GF Score

Get the complete analysis for BKK:NER-R

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

฿4.76
Price
฿6.03
GF Value